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REGISTERED NUMBER: SC460884 (Scotland)















ROCKFORT ENGINEERING LIMITED

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 31 OCTOBER 2023






ROCKFORT ENGINEERING LIMITED (REGISTERED NUMBER: SC460884)






CONTENTS OF THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023




Page

Company Information 1

Balance Sheet 2 to 3

Notes to the Financial Statements 4 to 8


ROCKFORT ENGINEERING LIMITED

COMPANY INFORMATION
FOR THE YEAR ENDED 31 OCTOBER 2023







DIRECTOR: Angus Rutherford Lyon



REGISTERED OFFICE: Abercorn House
79 Renfrew Road
Paisley
PA3 4DA



REGISTERED NUMBER: SC460884 (Scotland)



ACCOUNTANTS: Milne Craig
Chartered Accountants
Abercorn House
79 Renfrew Road
Paisley
Renfrewshire
PA3 4DA



BANKERS: Barclays Bank PLC
Witney
Leicestershire
LE87 2BB

ROCKFORT ENGINEERING LIMITED (REGISTERED NUMBER: SC460884)

BALANCE SHEET
31 OCTOBER 2023

31/10/23 31/10/22
Notes £    £    £    £   
FIXED ASSETS
Tangible assets 4 32,399 47,890

CURRENT ASSETS
Debtors 5 255,943 343,767
Cash at bank 145,496 253,241
401,439 597,008
CREDITORS
Amounts falling due within one year 6 65,493 72,833
NET CURRENT ASSETS 335,946 524,175
TOTAL ASSETS LESS CURRENT
LIABILITIES

368,345

572,065

CREDITORS
Amounts falling due after more than one
year

7

(24,963

)

(34,857

)

PROVISIONS FOR LIABILITIES 8 (6,164 ) (8,869 )
NET ASSETS 337,218 528,339

CAPITAL AND RESERVES
Called up share capital 100 100
Retained earnings 337,118 528,239
SHAREHOLDERS' FUNDS 337,218 528,339

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 31 October 2023.

The members have not required the company to obtain an audit of its financial statements for the year ended 31 October 2023 in accordance with Section 476 of the Companies Act 2006.

The director acknowledges his responsibilities for:
(a)ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and
(b)preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

ROCKFORT ENGINEERING LIMITED (REGISTERED NUMBER: SC460884)

BALANCE SHEET - continued
31 OCTOBER 2023


The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the director and authorised for issue on 13 March 2024 and were signed by:





Angus Rutherford Lyon - Director


ROCKFORT ENGINEERING LIMITED (REGISTERED NUMBER: SC460884)

NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 OCTOBER 2023

1. STATUTORY INFORMATION

Rockfort Engineering Limited is a private company, limited by shares, registered in Scotland. The Company's registered number is SC460884 and registered office address is Abercorn House, 79 Renfrew Road, Paisley, Renfrewshire, PA3 4DA.

The nature of the Company's operations and its principal activities for the year under review are that of consultancy.

2. ACCOUNTING POLICIES

Basis of preparing the financial statements
These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The financial statements are prepared in sterling, which is the functional currency of the Company. Monetary amounts in these financial statements are rounded to the nearest £.

Going concern
At the time of approving the financial statements, the directors have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors continue to adopt the going concern basis of accounting in preparing the financial statements.

Critical accounting judgements and key sources of estimation uncertainty
In preparing these financial statements, the directors have made the following judgements:

Tangible fixed assets are depreciated over their useful lives taking into account residual values, where appropriate. The actual lives of the assets and residual values are assessed annually and may vary depending on a number of factors. In re-assessing asset lives, factors such as technological innovation, product life cycles and maintenance programmes are taken into account. Residual value assessments consider issues such as future market conditions, the remaining life of the asset and projected disposal values.

Assets are considered for indications of impairment. If required an impairment review will be carried out and a decision made on possible impairment. Factors taken into consideration in reaching such a decision include the economic viability and expected future financial performance of the asset and where it is a component of a larger cash-generating unit, the viability and expected future performance of that unit.

Bad debts are provided for where objective evidence of the need for a provision exists.

Turnover
Revenue is recognised to the extent that it is probable that the economic benefits will flow to the Company and the revenue can be reliably measured. Consideration is given to the point at which the Company is entitled to receive the income, excluding discounts, rebates, value added tax and other sales taxes. The following criteria must also be met before revenue is recognised:

Revenue from the provision of services is recognised in the period in which the services are provided when all of the following conditions are satisfied:

o the amount of revenue can be measured reliably;
o it is probable that the Company will receive the consideration due;
o the costs incurred can be measured reliably.

Tangible fixed assets
Depreciation is provided at the following annual rates in order to write off each asset over its estimated useful life.
Plant and machinery - 25% on cost
Computer equipment - 25% on cost

ROCKFORT ENGINEERING LIMITED (REGISTERED NUMBER: SC460884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Financial instruments
The Company has elected to apply the provisions of Section 11 'Basic Financial Instruments' and Section 12 ' Other Financial Instruments Issues' of FRS 102 to all of its financial instruments. Financial instruments are recognised in the Company's balance sheet when the Company becomes party to the contractual provisions of the instrument. Financial assets and liabilities are offset, with the net amounts presented in the financial statements, when there is a legally enforceable right to set off the recognised amounts and there is an intention to settle on a net basis or to realise the asset and settle the liability simultaneously.

Basic financial assets
Basic financial assets, which include debtors and cash and bank balances, are initially measured at transaction price including transactions costs and are subsequently carried at amortised cost using the effective interest method unless the arrangement constitutes a financing transaction, where the transaction is measured at the present value of the future receipts discounted at a market rate of interest. Financial assets classified as receivable within one year are not amortised.

Derecognition of financial assets
Financial assets are derecognised only when the contractual rights to the cash flows from the asset expire or are settled, or when the Company transfers the financial asset and substantially all the risks and rewards of ownership to another entity, or if some significant risks and rewards of ownership are retained but control of the asset has transferred to another party that is able to sell the asset in its entirety to an unrelated third party.

Classification of financial liabilities
Financial liabilities and equity instruments are classified according to the substance of the contractual arrangements entered into. An equity instrument is any contract that evidences a residual interest in the assets of the Company after deducting all of its liabilities.

Basic financial liabilities
Basic financial liabilities, including creditors, are initially recognised at transaction price unless the arrangement constitutes a financing transaction, where the debt instrument is measured at the present value of the future payments discounted at a market rate of interest. Financial liabilities classified as payable within one year are not amortised.

Research and development
Expenditure on research activities is recognised in the income statement as an expense as incurred.

Expenditure on development activities is capitalised if the product or process is technically and commercially feasible and the Company intends to and has the technical ability and sufficient resources to complete development, future economic benefits are probable and if the Company can measure reliably the expenditure attributable to the intangible asset during its development. Development activities improve a plan or design for the production of new or substantially improved products or processes. The expenditure capitalised includes the cost of materials, direct labour and an appropriate proportion of overheads and capitalised borrowing costs. Other development expenditure is recognised in the income statement as an expense as incurred. Capitalised development expenditure is stated at cost less accumulated amortisation and less accumulated impairment losses

Pension costs and other post-retirement benefits
The company operates a defined contribution pension scheme. Contributions payable to the company's pension scheme are charged to profit or loss in the period to which they relate.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

ROCKFORT ENGINEERING LIMITED (REGISTERED NUMBER: SC460884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

2. ACCOUNTING POLICIES - continued

Impairment of assets
Assets, other than those measured at fair value, are assessed for indicators of impairment at each balance sheet date. If there is objective evidence of impairment, an impairment loss is recognised in profit or loss as described below.

Non-financial assets
An asset is impaired where there is objective evidence that, as a result of one or more events that occurred after initial recognition, the estimated recoverable value of the asset has been reduced. The recoverable amount of an asset is the higher of its fair value less costs to sell and its value in use.

Where indicators exist for a decrease in impairment loss, the prior impairment loss is tested to determine reversal. An impairment loss is reversed on an individual impaired asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Financial assets
For financial assets carried at amortised cost, the amount of impairment is the difference between the asset's carrying amount and the present value of estimated future cash flows, discounted at the financial asset's original effective interest rate.

For financial assets carried at cost less impairment, the impairment loss is the difference between the asset's carrying amount and the best estimate of the amount that would be received for the asset if it were to be sold at the reporting date.

Where indicators exist for a decrease in impairment loss, and the decrease can be related objectively to an event occurring after the impairment was recognised, the prior impairment loss is tested to determine reversal.

An impairment loss is reversed on an individual impaired financial asset to the extent that the revised recoverable value does not lead to a revised carrying amount higher than the carrying value had no impairment been recognised.

Cash and cash equivalents
Cash and cash equivalents are basic financial assets and include cash in hand, deposits held at call with banks and other short-term liquid investments with original maturities of three months or less.

3. EMPLOYEES AND DIRECTORS

The average number of employees during the year was 9 (2022 - 7 ) .

ROCKFORT ENGINEERING LIMITED (REGISTERED NUMBER: SC460884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

4. TANGIBLE FIXED ASSETS
Plant and Computer
machinery equipment Totals
£    £    £   
COST
At 1 November 2022 52,052 225,514 277,566
Additions 3,824 5,358 9,182
Disposals (40,398 ) (127,632 ) (168,030 )
At 31 October 2023 15,478 103,240 118,718
DEPRECIATION
At 1 November 2022 42,977 186,699 229,676
Charge for year 4,370 20,259 24,629
Eliminated on disposal (40,390 ) (127,596 ) (167,986 )
At 31 October 2023 6,957 79,362 86,319
NET BOOK VALUE
At 31 October 2023 8,521 23,878 32,399
At 31 October 2022 9,075 38,815 47,890

5. DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Trade debtors 116,860 213,229
Corporation tax 110,155 107,931
Prepayments and accrued income 28,928 22,607
255,943 343,767

6. CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR
31/10/23 31/10/22
£    £   
Bank loans and overdrafts 9,894 9,639
Trade creditors 7,131 4,896
Social security and other taxes 34,563 42,886
Directors' current accounts 1,040 728
Accrued expenses 12,865 14,684
65,493 72,833

7. CREDITORS: AMOUNTS FALLING DUE AFTER MORE THAN ONE
YEAR
31/10/23 31/10/22
£    £   
Bank loans - 1-2 years 10,149 9,894
Bank loans - 2-5 years 14,814 24,963
24,963 34,857

ROCKFORT ENGINEERING LIMITED (REGISTERED NUMBER: SC460884)

NOTES TO THE FINANCIAL STATEMENTS - continued
FOR THE YEAR ENDED 31 OCTOBER 2023

8. PROVISIONS FOR LIABILITIES
31/10/23 31/10/22
£    £   
Deferred tax 6,164 8,869

Deferred
tax
£   
Balance at 1 November 2022 8,869
Originating and reversal
of timing differences (2,705 )
Balance at 31 October 2023 6,164

9. DIRECTOR'S ADVANCES, CREDITS AND GUARANTEES

Included in creditors is an amount due to the directors amounting to £1,040 (2022 - £728).

10. ULTIMATE CONTROLLING PARTY

The ultimate controlling party is Rockfort Limited, by virtue of their majority shareholding in the company.